§ 2-7-109 — Compromise of claims; owed to estate

When it appears for the best interest of the estate, the
fiduciary may, subject to approval of the court, effect a
compromise with any debtor or other obligor, or extend, renew or
in any other manner modify the terms of any obligation owing to
the estate. If the fiduciary holds a mortgage, pledge or other
lien upon property of another person, he may, in lieu of
foreclosure, accept a conveyance or transfer of the encumbered
assets from the owner thereof in satisfaction of the
indebtedness secured by the lien, if it appears for the best
interests of the estate and if the court so orders.